Topic of the Week: Foursquare

One of the newest social networking sites that is showing up on the scene is Foursquare. With over 500,000 users to date the company which employees 16 people grossed about $1.35 million dollars last year. Which is not bad for a year old business.

According to PocketLint, Foursquare is a location service-based social network-come-game. Its purpose is allowing its members to share their location with their Foursquare friends by “checking in.” They “check-in” at different locations around town via their cellphone and earn points. You see, whenever you walk into any location around town you simply “check in” to Foursquare and your friends can see what restaurant, bar, or location your at and you earn points. The more points you earn the higher your Foursquare ranking becomes. You can even become “the mayor” of a particular area.

From a business stand point, the opportunities from this location-based network provides endless opportunities. Business can use Foursquare to reward frequent visitors with coupons and incentives. They can also do what Starbucks is doing and use the site as part of their new customer loyalty program. The site is even rolling out a free analytics program to business that provides detailed information about who is “checking in” to their locations and provide them the ability to communicate to these customers.

For the individual members and potential members of this site, there are obvious dangers. They are giving out information about their exact location at a particular time and broadcasting it over the internet. The comforting thing is that the information is only sent to “your friends” whom you have to approve. So, if you are using this particular networking tool or are about to, I would advise you to post locations that you have recently visited or make sure that you have a friend tagging along with you when you post your exact location.

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2 Comments

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2 responses to “Topic of the Week: Foursquare

  1. Mackenzie

    I had no idea that Four Square had that many users! I agree with you on your opinions on how Four Square can be benefical to companies and I also agree with you on your comments on how Four Square can pose potential dangers for individuals as well. Four Square is something that should be utilized by businesses, because they can see who popularly visits the location and who is talking about their company. This is something that companies should utilize just like they’d utilize Twitter! Thank can reward and thank their customers that are loyal and also answer questions and concerns with customers that did not have an enjoyable experience with their company. Secondly, Four Sqaure can also be dangerous for individuals if not used safely. However, it is comforting knowing that individuals can chose who to send information to. With that people need to be cautious as to who they allow to see it and who they do not. Individuals need to keep in mind that people can read their information and not to post anything too personal!

  2. Pingback: Guest Blogger- TOW 15 « Micaela Starr Carter

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